On January 1, Vermont Corporation had 47,500 shares of $10 par value common stock issued and outstanding. All 47,500 shares had been issued in a prior period at $20 per share. On February 1, Vermont purchased 1,090 shares of treasury stock for $27 per share and later sold the treasury shares for $19 per share on March 1. The journal entry to record the purchase of the treasury shares on February 1 would include a:.
a. debit to a loss account for $5,750
b. credit to a gain account for $5,750
c. credit to Treasury Stock for $28,750
d. debit to Treasury Stock for $28,750

Suppose life expectancy in years (l) is a function of two inputs, health expenditures (h) and nutrition expenditures (n) in hundreds of dollars per year. the production function is upper l equals ch superscript 0.40 baseline upper n superscript 0.60l=ch0.40n0.60. beginning with c = 1, a health input of $400400 per year (hequals=44) and a nutrition input of $400400 per year (nequals=44), show that the marginal product of health expenditures and the marginal product of nutrition expenditures are both decreasing. the marginal product of health expenditures when h goes from 44 to 55 is nothing, and the marginal product of health when h goes from 66 to 77 is nothing. (round your answers to three decimal places.)